Have you felt a pinch on your wallet lately? You are probably not alone, considering that in 2011, physician executive compensation experienced the lowest growth rate for the first time in ten years, showing us that executive compensation in health care is not immune to pressures felt across all sectors of the economy.
Consider these stats on physician executive compensation, taken from a recent survey by Cejka Executive Search and the American College of Physician Executives:
· The two-year rate of increase in total compensation – at 5.9% – is well below the 11.6% increase reported in 2009 and the lowest since the 2001 survey reported 5.0% increase
· CEOs reported their lowest two-year increase since 2001:
4.2% two-year increase compared with a 13.0% two-year increase in 2009
· CMOs were impacted to a slightly lesser degree, reporting:
5.7% two-year increase in 2011 compared with an 11.2% two-year increase in 2009
· Medical Directors fared better than average, reporting:
7.6% two-year increase, an improvement compared with 4.9% two-year increase in 2009
Business education also plays a key role in physician executive compensation. All survey respondents showed a positive difference in the median compensation for those with an MBA.
Today’s health care organizations are working toward accountability, streamlining care and
aligning stakeholder interests. Physician executives are essential to the leadership teams to guide these changes. Similarly, post-graduate business training is becoming essential for physicians transitioning from the clinic to a corner office.
As a physician executive, do you think your salary measures up to the demands? Or as a non-MD
executive, do you believe physician execs are compensated fairly? Share your thoughts in the comments section.
For more information about physician executive careers and to download the
entire survey, visit www.cejkaexecutivesearch.com/compsurvey2011.
Consider these stats on physician executive compensation, taken from a recent survey by Cejka Executive Search and the American College of Physician Executives:
· The two-year rate of increase in total compensation – at 5.9% – is well below the 11.6% increase reported in 2009 and the lowest since the 2001 survey reported 5.0% increase
· CEOs reported their lowest two-year increase since 2001:
4.2% two-year increase compared with a 13.0% two-year increase in 2009
· CMOs were impacted to a slightly lesser degree, reporting:
5.7% two-year increase in 2011 compared with an 11.2% two-year increase in 2009
· Medical Directors fared better than average, reporting:
7.6% two-year increase, an improvement compared with 4.9% two-year increase in 2009
Business education also plays a key role in physician executive compensation. All survey respondents showed a positive difference in the median compensation for those with an MBA.
Today’s health care organizations are working toward accountability, streamlining care and
aligning stakeholder interests. Physician executives are essential to the leadership teams to guide these changes. Similarly, post-graduate business training is becoming essential for physicians transitioning from the clinic to a corner office.
As a physician executive, do you think your salary measures up to the demands? Or as a non-MD
executive, do you believe physician execs are compensated fairly? Share your thoughts in the comments section.
For more information about physician executive careers and to download the
entire survey, visit www.cejkaexecutivesearch.com/compsurvey2011.
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Retained recruiters work for the organizations who are their clients, not for job candidates seeking employment, in some countries, such as the UK, recruiters are not legally permitted to charge candidates. In the U.S. job candidates may pay an up front retainer to consulting or counselling firms to assist them in their job search. Such firms are not typically known as retained recruiters but may provide recruiting services to organizations and therefore share the descriptive nature of the title.
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